According to the Simple Model of the Marketing Process,a Company

question 138

Multiple Choice

According to the simple model of the marketing process,a company needs to ________ before designing a customer-driven marketing strategy.

• A)determine how to deliver superior value
• B)build profitable relationships with customers
• C)use customer relationship management to create full partnerships with key customers
• D)understand the marketplace and customer needs and wants
• E)construct key components of a marketing program

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Definitions:

Perceived Importance

The level of significance or value that an individual or group assigns to a particular item, issue, or activity.

Salience

The quality of being particularly noticeable or important; in economics, it refers to how prominent or relevant a factor is in decision-making processes.

Framing

The concept of how choices are presented or "framed" can significantly influence decision-making processes.

Value Signal

An indication or measure that suggests the economic worth or utility of a product, service, or asset to consumers.